'There are no cuts. I say again, there are no cuts. What the Cleggerons are talking about is a reduction in the rate of increase in public expenditure as compared with the June budget.
...
...the current financial year expenditure is £696.8 billion. By 2014-15, the projected expenditure was to rise to £757.5 billion. Little George is now proposing that this increase is limited £739.8 billion. This now becomes a 17.7 percent "cut", albeit that expenditure is still increasing.
Thus, the language of public expenditure has been redefined. A reduction in the rate of increase is deemed to be a "cut". In fact, by 2014-15, annual expenditure will have increased by £43 billion, up 6.2 percent (not nine, as originally stated). By such sophistry, "cuts" are not actual reductions. They are lower than projected rates of increase.'
Read the rest and wonder why the BBC and others are so keen to portray the cuts as so savage; anyone could believe that they had an axe to grind...
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